#gdp-growth

#gdp-growth

Rising energy, labour, and supply costs, coupled with higher taxation, continue to erode margins for businesses in the night-time economy.

The S&P 500 is up 10% year-to-date, powered by the 'Magnificent Seven' tech giants whose foreign-heavy revenues are being boosted by the weaker dollar. Concentration in the top 10 stocks is at its highest since the 1960s, with earnings strength - 83% of companies beating estimates - driving sentiment.

One major drag is Russia's exorbitantly high interest rate, currently 21%, which is choking off private investment. The auto industry and mechanical engineering sectors are particularly hard hit.

Bret Baier mentioned the economic contraction concerns while discussing President Trump's claims about the new trade agreement with China, emphasizing its incompleteness.

"If current trends hold, average global growth for the 2020s would reach just 2.5 per cent - making this the worst-performing decade for the world economy since the 1960s."

The unemployment rate in Ontario fluctuated between 7.3% and 7.6% in early 2024, indicative of a fragile economy facing significant external pressures.

Germany's economy unexpectedly grew 0.2% in the first quarter, potentially easing the transition for new Chancellor Friedrich Merz amidst ongoing concerns about US tariffs.

California's economy has now surpassed India and Japan, officially making it the fourth-largest economy globally, showcasing the state's diverse and booming sectors.

Economic growth in China accelerated to 5.4% in Q1 2023, surpassing the expected 5.1% due to strong industrial output and exports, impacting response to U.S. tariffs.